Akila And S Somasegar Family Foundation
- Assets
- $670.0k
- Revenue
- $2.8m
- Investments
- $530.8k
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 06/2015
- Data as of
- 12/2023
- EIN
- 46-4902242
Organization Overview
Akila And S Somasegar Family Foundation is located in Seattle, WA. The organization was established in 2015. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Akila And S Somasegar Family Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Akila And S Somasegar Family Foundation generated $2.8m in total revenue. All expenses for the organization totaled $97.1k during the year ending 12/2023.
Since 2016, Akila And S Somasegar Family Foundation has awarded 39 individual grants totaling $548,494. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Akila Somasegar President | 0 | $0 | |
Sivaramakichenane Somasegar Vice President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,611,411 |
| Interest on Savings | $2,423 |
| Dividends & Interest | $28,546 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $166,442 |
| Capital Gain Net Income | $166,442 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,808,822 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $18 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $4,929 |
| Contributions, gifts, grants paid | $92,150 |
| Total expenses and disbursements | $97,079 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $139,210 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $669,962 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $5,000 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,000 |
Grants Awarded
Over the last fiscal year, Akila And S Somasegar Family Foundation has awarded $92,150 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED NATIONS FOUNDATION PURPOSE: FOR EXEMPT PURPOSES | $15,000 |
YWCA SEATTLE KING SNOHOMISH COUNTY PURPOSE: FOR EXEMPT PURPOSES | $50,000 |
FRED HUTCHINSON CANCER RESEARCH CENTER PURPOSE: FOR EXEMPT PURPOSES | $20,000 |
THE AKSHAYA PATRA FOUNDATION USA PURPOSE: FOR EXEMPT PURPOSES | $5,150 |
VEDIC CULTURAL CENTER PURPOSE: FOR EXEMPT PURPOSES | $2,000 |